www.CostaRicaTicas.com

Look they are all connected with each other,ex goldman sachs etc.......sweden went thru this in 1992 and taxpayers got shares and equity in bail-out..unlike what the bush regime were trying to force through last week.....

I am not a economic genius, but the Dow down 777 sounds like my lucky number Should I buy buy buy?

_________________

Living well is the best revenge
http://www.youtube.com/watch?v=MwUtj_YnNoY

YO Chaos:

I don't like going into politics but the table has been served.

Let the free market decide and let the chips fall where they may. Just about every time the government steps in....things become even more screwed up. We pay these so called gov. reps to do a job and they bicker, steal, Phuck us and make millions on the side. I have no trust for politicians.

This melt down may not be good for your 401K but in essence it just may be the sobering this country needs.

Personally, Shitass, my cat, and me have drawn out all our life savings....$481.24 and we are good to go. Tried to sell my old S&H green stamps on Ebay but no go. Sold my 8 shares of Wachovia and am now completely out of the stock market. Got plenty of ammo, spam, Deli-cat, beenie-weenies, chips and sardines. Not to mention that I can keep plenty of foul food on hand by shooting the seagulls in the city dump next door. Then there is raccoon meat....not bad.

I just hope that my fellow CRT'ers are as fortunate as we are.

Hell, I'm good to go.

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Damn if I'm going to repeat this shit again. I need a drink.
I've been drinking vodka every day for 45 years and I have certainly never found it to be habit forming.

Every chance I get I need to spread the good word of Dr. Paul.

http://www.youtube.com/watch?v=A0xOwHa2 ... re=related

dapanz1

Circus,

Newt is giving a speech to the National Press Club tomorrow regarding this matter. Since your too cheap to buy cable, call your son and see if he might let you come over and sit on the porch and listen to the speech

Rep leaders John Boener and Eric Fox said that they voted the bailout down because that old meanie, Nancy Pelosi, dissed them. I guess that is a good reason.

I have always maintained that there are three political parties in the US: 1.) Democrat; 2.) Republican, 3.) Capitalist.

The capitalists will be on which ever side is in power and use what ever means they can to encourage the party in power to adopt the best interests of the capitalists. Forget the labels of right, left, conservative, liberal, all that stuff makes people so confused. Labels don't mean anything. Look at actions.

A wise old politicians once told me, "Don't listens to whats I says, watches how I votes." Rhetoric is meaningless in politics. What do they do? What is their record?

The legislation which failed yesterday had some strange bed fellows. There were some pretty big holes in the bill. The bill was promoted by the Democrats who tout they are for the little guys while ultimately defeated by Republicans who are supposed to be pro-Wall Street.

Some thoughts on the failed legislation:

- It bailed out lenders, banks and Wall Street but did nothing for people facing foreclosure and personal bankruptcy. So the American consumers bail out but the financial elites but the American consumers, who just wanted a part of the American dream, are thrown out of their house, thrown under the bus and then stuck with the bill. That is truly getting ph*cked without getting kissed.

- The oversight “commission” to watch over or administer the most massive loan in history had no teeth, no enforcement powers. All they could do was watch because they were given no power to effect anything. Truly a toothless, declawed tiger. If there is no enforcement mechanism there is no law. What were they (we) supposed to do, just trust Wall Street lawyers and brokers to do the right thing with $700 billion?

- There were no consequences written into the bill in case Wall Street lawyers and brokers absconded with (stole) all or part of $700 billion. None! "Trust me, I am a lawyer and I am here to help you." Only a fool loans money without making sure there are ramifications, consequences and/or penalties in case the borrower fails to live up to expectations. For that matter, there were no expectations.

- The legislation suggested that the government could be paid back but there was no requirement. Suggest! That is as weakly written as: perhaps you can pay us back; we recommend you pay us back; maybe you could please pay us back, but only if you don’t mind. Would you loan your neighbor the sum of $700,000.00, with no repayment schedule, no collateral and leverage to get your money back?

That is not a loan! That is a gift. They ought to hire Tony Soprano to negotiate this deal. The contract language might have a lot of ph*cks in it but the expectations, repayment schedule and consequences for failure to pay would be very clear.

Prior to the legislative failure yesterday, over 200 well know economists advised Congress in writing that if the proposed legislation passed it could actually make the financial crisis worse. It could cause a complete economic meltdown.

YO DiegoC:

Your points are well taken and I agree with most of them. The bailout is a real dog and pony show. Not to mention, the very politicians who gave no oversight up until now will be the same ones minding the store if this bill passes.

From the mid 1990's on the feel good crowd wanted to guarantee everyone home ownership....they used racism, bigotry, only the rich have homes and other threats against lending institutions thus allowing thousands of unsecured loans. Then they unloaded many of them to F. Mac and F. Mae. Hello disaster. It even got worse as the 110% loans came into play.

They should bring a lot of the heads of these institutions from 1995 to 2008 into hearings and take the oath but the democrats and republicans won't let that happen.

It smelled before and the stench is getting worse.

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Damn if I'm going to repeat this shit again. I need a drink.
I've been drinking vodka every day for 45 years and I have certainly never found it to be habit forming.

I agree with you particularly on the concept of holding hearings on this is really important issue. I hope they do that or appoint a special prosecutor. Not a “reform commission” which is a group of toothless has beens who publically masturbate one another. And nothing will ever come of it. Oh there is a great show, but no follow through.

I am surprised that more people are not talking about the Swedish experience with a bailout, in which the govt. really extracted a pound of flesh in return for the funds. The bailout was very successful and it cost the taxpayers almost nothing.

I don’t know anything about the Swedish experience but thanks to your input will do some research.

My guess is there are some major differences. The Swedes were probably concerned about the good of the country and the good of the individual Swede.

By contrast, the American politicians are probably more concerned about the good of their heavy Wall Street donor base and their personal financial interests.

One of the most amazing things you can do is to follow the money. It takes some digging but follow the trail of contributions from corporations, corporate officers and family members to politicians -- local and state. Money really is the mother’s milk of politics. (Jess Unruh)

"Follow the Money"--FinCEN. And when you get down to it, aren't these rascals even if not acting in concert, truly an over-arching terrorizing conspracy? The only place I'm going with this is to use it as a tool to get more effective regulation (I deliberately used this word "effective") and get the truly bad guys (and there were some on all sides) in some measure of justice for the rest of us.

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"A man accustomed to hear only the echo of his own sentiments, soon bars all the common avenues of delight, and has no part in the general gratification of mankind"--Dr. Johnson
"Amen, brother"-ED

The "Bailout" - The final gambit in this administration's ongoing campaign to move vast quantities of money from public coffers to private hands. Brilliant!

_________________
"Your love gives me such a thrill
but your love don't pay my bills,
I NEED THE MONEY!" - John Lee Hooker

Disclaimer: The above is merely the opinion of the author unless specific scientific data is included.
Your mileage may vary. https://costaricaticas.com/phpBB2/viewto ... 978#206978

Brother Pac55 has it right--socializing risk and debt, and privatizing profit. Plus this has the effect of de-funding the government--so no future public service programs are possible. The desire might be there for a future Administration but the money won't be.

_________________
"A man accustomed to hear only the echo of his own sentiments, soon bars all the common avenues of delight, and has no part in the general gratification of mankind"--Dr. Johnson
"Amen, brother"-ED

I just heard on CNN that with all the earmarks and unrelated add-ons the bailout package legislation is up to a $1 trillion price tag.

Also, the U.S. Chamber of Commerce, the same people who have helped ship thousands of American jobs over seas, it scaring the shit out of Members of Congress. How? Threatening to run candidates against them in two years and threatening to without campaign funds now -- it is election time in about 33 days. The one thing all politicians want is to be re-elected.

Pacifica55 is dead on, this is an ugly transfer of your and my wealth (small as it may be) to the superwealthy.